Middle East

　Spot differentials for Qatari L.S.C. for October-loading gained. Demand for condensates increased on the back of improving naphtha crack spreads in Asia. QPSPP sold at least one cargo of L.S.C. in its October-loading sell tender closed on Monday. The identity of the buyer was unknown at this stage, but the cargo fetched a premium of mid $2.00 to Dubai quotes, up 40-50cts from the September traded levels, the market was supported by growing demand for Qatari condensates as alternative for light grades amid stronger light crude values such as Murban. The October condensate market accelerated its upward trend, triggered by stronger naphtha margins. Meanwhile, QPSPP awarded its term sell tender for L.S.C. for October to March loading in 2022 closed on Monday. The winner was unknown but the tender was heard awarded at a premium of mid to high $2.00 to Dubai quotes.

Africa/Europe/Russia/America

　In the trade of October-loading Sakhalin grades, it turned out that US ExxonMobil so far sold at least one cargo of Sokol to an end-user in China. The price was heard at a premium of below $3.00 to Dubai quotes. In the trade of October-loading Sokol, demand from Japan remained sluggish but appetite from end-users in South Korea was stable. The market for Sokol fell from the previous month, so that deals for end-users in US with demand for light grades were concluded. India's Oil and Natural Gas Corp (ONGC) sold one cargo each to SK Energy and US Chevron in its two Sokol sell tenders. Meanwhile, as for three cargoes allocated to Sakhalin Oil and Gas Development (SODECO), ITOCHU Corp sold one cargo to US Marathon Oil and Marubeni sold one cargo to GS Caltex. Furthermore, INPEX supplied one cargo to Par Petroleum.

Asia Pacific

　In the trade of October-loading Malaysian grades, US Conoco Phillips sold one cargo of Kimanis for Oct 25-29 loading via its sell tender closed on Aug 19. The buyer was an Australian end-user seen as Ampol. The price details were unclear at this moment but few market players said that the price was at a premium of low to mid-$2s to DTD Brent. But the price fell from the previous month as refinery run rated declined in overall Asia including Southeast Asian countries. Meanwhile, Brunei Energy Service sold two cargoes of Kimanis for Oct 5-9 and 13-17 loading in its sell tender closed on Aug 16. The prices were apparently at premiums of 10-20cts to OSP and Europe's Vitol secured both of the cargoes.